Drilling Report

Medoro Resources Announces Drilling Results

    TORONTO, April 16 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS/AIM: MRL)
announced today further diamond drilling results from its Lo Increible gold
properties located in the El Callao mining district in Venezuela. Highlights
include hole No. 274 at El Tapon which had multiple intercepts including
38.1 metres at a gold grade of 4.8 grams per tonne (g/t) and 7.5 metres
grading 7.2 g/t
    The program, consisting of twelve holes at La Cruz, two holes at La
Sofia, ten holes at El Tapon, eight holes at Tibaire and twelve holes at Los
Gritos was designed to expand and improve confidence in the resource estimate
previously reported.
    Significant intervals (exceeding 10 gram-metres) are summarized below.

    -------------------------------------------------------------------------
    Hole No.        From      To      Interval    Grade        Zone
                     (m)      (m)       (m)       (g/t)
    -------------------------------------------------------------------------
    LI07_134        74.0     78.0       4.0        3.2       El Tapon
    LI07_213       126.7    139.5      12.8        2.4       El Tapon
    LI07_244       145.9    153.5       7.5        7.9       El Tapon
    and            155.0    158.8       3.8        3.8       El Tapon
    LI08_252C      177.0    191.0      14.0        5.6       El Tapon
    LI08_255       179.9    195.0      15.1        3.1       El Tapon
    and            199.0    210.0      11.0        2.5       El Tapon
    LI08_261       145.6    146.3       0.7       17.5       El Tapon
    and            170.9    176.0       5.1        4.2       El Tapon
    and            187.0    196.7       9.7        2.5       El Tapon
    LI08_271        93.4     95.5       2.1       15.1       El Tapon
    and            100.2    102.8       2.6        8.6       El Tapon
    LI08_274       164.5    172.0       7.5        7.2       El Tapon
    and            179.0    217.1      38.1        4.8       El Tapon
    LI08_280        53.7     56.7       3.0        4.4       El Tapon
    and             91.0     95.9       4.9        3.7       El Tapon
    and            131.7    141.3       9.6        4.8       El Tapon
    -------------------------------------------------------------------------
    LI07_206       176.4    183.5       7.1        4.0       La Cruz
    LI07_251       186.5    189.5       3.0        7.6       La Cruz
    LI08_254       198.7    207.3       8.6        4.3       La Cruz
    LI08_258       287.2    287.8       0.6       24.7       La Cruz
    LI08_268        89.0     94.5       5.5        2.4       La Cruz
    and            109.1    112.4       3.3        3.8       La Cruz
    LI08_273         1.5     12.8      11.3        3.5       La Cruz
    and             65.4     72.9       7.5        2.2       La Cruz
    LI08_275           -     10.4      10.4        6.9       La Cruz
    and             88.7     93.1       4.4        2.8       La Cruz
    -------------------------------------------------------------------------
    LI07_231       171.4    179.1       7.7        5.6       Los Gritos
    and            204.1    208.1       4.0        4.7       Los Gritos
    LI07_242       114.8    120.1       5.3        3.5       Los Gritos
    LI08_256        13.5     22.5       9.0        2.7       Los Gritos
    LI08_259       118.3    127.6       9.3        2.6       Los Gritos
    LI08_276        24.5     33.6       9.1        1.3       Los Gritos
    LI08_281           -      9.3       9.3        4.4       Los Gritos
    and             22.5     34.4      11.9        1.1       Los Gritos
    -------------------------------------------------------------------------
    LI07_198       112.5    118.7       6.2        2.6       Tibaire
    LI07_199       109.5    114.9       5.4        6.5       Tibaire
    -------------------------------------------------------------------------
    Intervals approximate true width. Grades are uncut.
    -------------------------------------------------------------------------

    The extension drilling at La Cruz has confirmed the continuity of this
orebody at depth and also its continuation further east than previously
interpreted, while infill drilling at El Tapon has confirmed the current
geological model and extended this to the west.
    The drilling at Los Gritos, where a resource has not yet been reported,
has demonstrated the presence of a continuous zone of quartz-carbonate veining
for some 350 metres along strike and to a depth of some 200 metres which
remains open in all directions.
    The company has now completed 13,000 metres of diamond drilling which is
aimed at adding resources outside of the existing zones, testing the potential
of near-surface mineralization at La Cruz and defining high-grade shoots along
the La Cruz structure. The company currently has three drill rigs on the
property, two of which are dedicated to upgrading the resources at the La
Cruz, La Sofia and El Tapon zones and one of which is being used to evaluate
four additional prospects, among others, that have been identified within Lo
Increible 4A and 4B - Tibaire, La Lapa, La Loca and Los Gritos.
    At the Lo Increible properties, gold mineralization occurs as lode-gold
shear-hosted quartz-carbonate veins. Mineralization is associated to the
east-northeast to east trending Lo Increible shear, and it shares with the
nearby Choco 10 mine similar lithologies, structural features and style.
    Dr. Mike Armitage C.Eng. C. Geol. is the Qualified Person for this
project, is independent of the company and has reviewed this press release.
    Medoro has used Actlabs Laboratories in Venezuela as the primary
laboratory. Split HQ core samples of 4 to 5 kilograms were crushed and
pulverized to 500 grams. A 30 gram sample was split for Fire Assay analysis
using AAS finish, and gravimetric finish if Au was greater than 2.0 grams per
tonne. A comprehensive quality control program, which includes blanks,
standards, field duplicates and cross checks was employed. This QC program
included the use of certified standard reference samples.

    Medoro Resources is a gold exploration and development company focused on
acquiring properties of merit for potential joint ventures with senior
producers. The company holds a 100% interest in the Lo Increible 4A and 4B
concessions in Venezuela and interests in seven gold exploration areas in the
Republic of Mali. Additional information on the company can be found by
visiting the company's website at www.medororesources.com. Medoro's Nominated
Adviser for the purposes of AIM is Canaccord Adams Ltd. (Ryan Gaffney), +44
(0) 20 7050 6500.

    Glossary:

    AAS: Atomic Absorption Spectrometer.
    Split HQ: A standard form of core size.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE


For further information: Robert Doyle, [phone],
rdoyle(at)medororesources.com
(MRL)